Ethereum Cat Herders PEEPanEIP, 29 Jul 2022

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From YouTube: PEEPanEIP#82: EIP-3475: Abstract Storage Bonds with Yu Liu, Cedric Ngakam

Description

Topics covered
----------------------------
1:00 - About the author
1:36 - Team and goal - reason for documenting the proposal
3:15 - Presentation
4:04 - Introduction
5:37 - Token Standard table
8:32 - What’s the difference between 1155, 721 and 3475
11:47 - Who uses the EIP-3475 token standard?
14:55 - On-chain Meta data storage
20:00 - Class, nonce id and metadata structure
22:29 - Metadata for frontend
26:24 - Batch transactions
26:55 - Types of supply
28:32 - Events
30:17 - Use case - Bonds and financial derivatives
32:10 - Use case - Multi Layer Pool
37:37 - EIP-3475 can bring to Ethereum
38:38 - Why standardized?
40:33 - Other considerations
41:00 - Benchmarks
41:35 - end of presentation
42:20 - Q & A
42:25 - Why a standard
45:52 - How EIP-3475 provides gas efficiency?
51:19 - Do you have any thoughts to be shared with the community

Resources:
-----------------
EIP - https://eips.ethereum.org/EIPS/eip-3475

Discussion - https://ethereum-magicians.org/t/eip-3475-multiple-callable-bonds-standard/8691

https://github.com/Debond-Protocol/Docs

Slides - https://docs.google.com/presentation/d/1T1yqt1L3ifDhIapBdf5e_Dk8w5IJHFfSBUJ2XjEOvFQ/edit#slide=id.g13a8d2f7fc2_0_169

ERCs Playlist - https://www.youtube.com/playlist?list=PL4cwHXAawZxqXee9EMQDIEz2CslTnsW0K

KnowYourClient - https://www.youtube.com/playlist?list=PL4cwHXAawZxoruie1hmYWJfiakpYivXft

PEEPanEIP playlist - https://www.youtube.com/playlist?list=PL4cwHXAawZxqu0PKKyMzG_3BJV_xZTi1F

Check out upcoming EIPs in Peep an EIP series at https://github.com/ethereum-cat-herders/PM/projects/2

Follow at Twitter
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Pooja Ranjan @poojaranjan19

Check out upcoming EIPs in Peep an EIP series at https://github.com/ethereum-cat-herde...

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A

A bond is a popular concept in lending in the web 2 world. We do not have many standards for web3 applications if you are interested in d5 and want to learn more about the proposed standards for born continue watching.

A

Welcome to peep any episode, 82, I'm puja ranjan and today we are going to have an overview of erp 3475, abstract storage bonds with you, liu eip3475 is a standard track erc proposal. uh It was documented in april 2021 and the proposal is currently is in the last call, which is ending very soon. That is on july 30th, to learn more on the proposal. uh Let's welcome you. Thank you for joining.

B

Thank you so uh great to meet you all, I'm actually the author of the yeti proposal, 3475 uh just like introduced. What we call is abstract storage form. So uh that's pretty much about the. um I said the puzzle itself and about me, um I'm lulu again, I'm 29 years old. I was born in china and I lived four years in canada.

A

B

Now, I'm in france, they founded a company with friends and also some team members in paris and they are trying to bring traditional bond and traditional financial products are issued by those big institutions into different.

B

So that's, basically what is our goal and because we can find and standard and really good uh token standard to uh to be used with jibong, and we studied some token standards uh like 1400, 140, 1462 and also our some, um let's say um private implementation by the solution and by other banks we found out the infrastructure itself is not that good and because I was working for accept and back then I know that in the real financial world the the trading in bond and judaism is a quite big market and we should have the same size market- let's say not too small than that uh in d5, uh but we can't find it because, uh like I said, the infrastructure is not strong enough.

B

So we try to bring the yeah business on 7.5 and try to build that infrastructure, allow everyone, banks and individuals to issue financial products and with less higher and more available, more reliable, more reliable, logics and infrastructures. So that's basically the goal of the proposal.

A

Well, thank you so much. um I know you have a great presentation uh to be shared with the community. So without further ado, let's peep in.

B

Yes, so uh I think I'm going to start so. The other cells called 9675 and the name is abstract storage bond. So the name uh when they started to create the draft. It was a mutable carbon bond with the same number. So actually we decided to change the name before the last call, because I think that actually the abstract star response can cover us a little bit better. uh The concept of the proposal. Of course the proposal can be called.

B

Of course the proposal is synchronized bond, but I think most important part and the differs with other protocol is our abstract storage, which I will speak a little bit later and afterward. um Here is the standard impression. So uh we gave it a name yeah c3475- and here is some explanation.

B

So we said it's an interface for tokenized application with abstract function, metadata storage. So the idea about our sender. They are not try to have a token like object. uh Actually they created a tokenized obligation so actually the actual uh token itself. It's a smart contract. It's a contract saying that, uh let's say there's any conditions you can imagine and if you trade your tokens to another person, which means that we are actually achieving a contract to the message to the buyers.

B

So basically, this is the idea of a necessary bond of financial jobs and the abstract on human data storage. It's uh I think, based on my study of current topic standards. They are using off-camera data, so in terms of financial product, it may not be the best idea, because even though we can't modify the ips string, but actually we can just delete it and we lost all the information out there already related to the bond.

B

So basically we put the metadata itself function and to solve the questions like uh because it's ability you have to specify the different types of variables and in most of token standards you have specified variables and specified functions to read them. So, basically, uh in order to create a more reliable and more adaptable token center, we need to redesign the structures of those variables and to the storage itself.

B

That's basically the goal of the total so.

A

B

uh What we have we have some uh basic conversion with the existing translator. Of course we know there are other domain standards, but I think those tools are most commonly used based on the statistics open cycle. So here you have the ic20 ies 721, that's the one, five five and also uh three four seven five here the first line. They explained that the difference is in terms of responsibilities, so yes, 20 control, so 71 and both 1.5 and our 3475 called certain frontal so taking initiative both functional and 9.4 same time.

B

So uh we checked the file uh document, and this is the same description. You use for the non-token standard and in terms of original erc20 is uh don't have this metadata and it has no variables or functions to read it, but you of course you can use some extensions to get synthetic structures inside of yes 20 and for the 71 and above five you have a native um metadata functions are already built inside and normally you have your uh you, have your eye and use this.

B

uh You can find either its file or, uh let's say, a file on github. So basically, the data itself is off-chain and most of the time the metadata is only for message option and so in some cases it's fine. But you know, let's say if you are creating financial product, it can be, uh can be temporary, accused and uh here january 3475 what we call it's um function metadata.

B

So basically the it's the same, editor that's magnetized build enchant and hopefully they found uh as a gas efficient solutions and to to deal with this and the the third one is the token id so 20, uh yes, 20 don't have a society and both seven to one and one five. Five. I had so, let's say a single. uh What can I say a single.

A

B

The ids, so it's zero to two power, 256 minus one, so that is the total of id it can have and uh even in the eight 20. You can't find this this token id because, like I said it's the same program, so uh what's the difference between us and existing one, five, five and second one it's actually they have used two dimensions which is x and y and in our wind standard uh we propose it as the cast and north.

B

So actually, um I will explain why we need this, but the basic idea is that you need to um fragment, let's say uh smart contracts into very small pieces and each class will share the same metadata and under the each class you can have a lot of nodes notices and those nodes has, let's say local, unknown metadata, but they all have the same custom editor. So basically that's this structure and explanatory, and here you have some transaction functions and you have one eval file file, which is using two iris and the general implementation they propose.

B

Actually, they will check the length of the arrays and the operations, uh let's say, has a lot of requires and all those is not that cost efficient. So basically, we uh propose a message structure, a customizable structure which we call transactions. So in the transaction structures you can build all those informations and use for one single transaction and you found do multiple transactions. You just put, let's say an array of the transaction structure.

B

So the terms of efficiency is clear, for let's say front-end manipulation and it's uh it can save sometimes as well, and here we are the most important part of storage. So, like like I say I introduced earlier, the storage itself, um 20 71.5 and maybe all the token sensors- that's specified. You have a symbol, a variable to how to start a string, and this string can be read using functions that mentioned in the erp. So that was basically the idea of the the storage specified storage, what we defined.

B

But the idea is that, based on our study so most of the banks and institutions, but they want to issue a securities or some kind of financial product or some kind of treaties. They are not using the same parameters: they're, not using the same variables. So if you want to create a standard for everyone, you need to find a more uh adaptive method, yeah to create the same interface and the same token standard form.

B

So, basically, what we do is they are using what we call abstract, storage method, and here we say that our storage is more adaptable and the final part is a type of surprise.

B

So here you have all different kind of supplies, and in 20 and 155 there are only one type of supplement which is uh to those of that and in erc3475 you have three types of supplies: uh those are active, supply, point supply and redeem supply. So I'll explain why we do this uh later in the presentation.

B

So uh here we explain who is going to use our token standard and first one, of course, is those big name bonds. So here have have a news of the sensational and other banks uh who is already issued uh what they call smart world. So if, basically, if you search for the smartphone on wikipedia or on internet, confirmed the smartphone, actually it's um it's not.

A

B

But, like I said before, the only thing bothers me and other most of the users is the end-to-end standard to standardize the whole process and, most importantly, if you are using a yes 20 tokens, so for all those metadata and models, variables and parameters, you need to store for your bond using. You need to create a separate functions and separate variables which is not efficient at all, and the code can be very messy and, of course, you don't have any for them to read those informations accordingly and efficiently.

B

So here is the first potential users, traditional solutions themselves beginnings and the second one is of course, the default project. So in this presentation uh they uh explain a little bit how our token standard can be used in amm. So, basically, we created a new model for the amm and this will reduce image and this will reduce also cast via consumption.

B

So, ideally, most of the default project can use our solutions and create what we call apm or automatic parameters which is far more efficient than existing solutions, and the final part is the standard is, can be used for applications, but actually the data structure itself is so very easy to uh to be attacked uh to be adapted to our other use case.

B

So, basically, if you are using the standard for let's say design game, something like that, um you can use the token standard, because the token sender can hold the information and because it's using the yes 2017 file interface, all those uh merchandise can be uh treated on our secondary market, so basically all the bonds and all the financial derivatives that can be traded and because the data itself expanded with the class gaming class idea during most items. So uh earlier, uh using the erc20 token.

B

What you do is that you are linked some data like say when you deposit the money and all that this address of the deposit. So what will happen if you want to treat the rp token? What will happen is that all the information will be lost. So basically, our solution is, uh let's say, a boundary, those uh important methods, let's say, values where the token id and announce itself so once the token is transferred from one just to another. All this information is transferred as well so use this solution.

B

We can create a secondary market for all those financial products that I've been talking. So here it's actually the most important page in the presentation.

B

And here you can find that this basically is just all structures of the gestures 3475 you have on top uh what they say: the smart contract level. So this is the whole thing. Basically is the the same, just 3475, smart contract, and here on the contract level, uh you have two things: the first one is the class mentality, keys and the descriptions, and on this side it's a given number of passes. So it's from zero to the two or uh 256 minus one. So basically this is the class id like.

B

I said, each class id share the same metadata, keys and descriptions, but they don't share the same values, so the values is put here- and this is let's say, I'm mapping from the class id to a string of values, and here maybe you are asking for most of these. Of course, you ask how you can store different kinds of different type of variables in a single array, so basically the house solution what they called uh here.

B

This solution so I'll explain that later. The idea is that each class has different values and, for example, here in the structures it has two values. It has value zero and value one. Whether zero here is the name of the cast zero.

B

That's uh what we call debate, sixth grade uh success and the class one here is the debate fixed rate of 30 days, so there's a two different kind of type: that's a different kind of product under the same smart contract level and on the second part, is actually what differs class, 0 and class 1. So here you have a integer, this integer, if you're using the value one here and you can find the key of value one. So it's the key line here in the media structures you can find out.

B

This actually is the period of the bond, and this can be also the period, let's say, financial abilities. Then this contract will be taken place. So that's basically a time lock, and here you have the key and the key one is private and the type is the integer and you have some description. So the whole uh metadata part is for the front end and then explain how the front end going to integrate it into readable, natural languages so uh again under the cast level.

B

So, each under each class levels you have the same knowledge levels so here under the test, uh zero. You have first announcement, editor keys and descriptions here, and you have also all different nonsense. So from a given number from zero to two uh here, the non-metadata keys- and this actually is the same structures like in the class, but only thing. The only difference is that each node, let's say, for example, a non-zero on the cast, zero and announce one under the custom. They all share the same metadata, same values, same data structure.

B

There is all those nonsense on the cluster. So even though the non-zero and mass one is different, has different values, but they all share same uh values and metatars. Here, and here you can see that they have some example. So here again, the key 0 is what we call maturity.

B

So the idea is that if you want to issue a security or if you want to issue some kind of financial product, let's say objectives, uh you have a period and let's say after the period or on this period you burn all utilities can be redeemed or if they are executed.

B

So this number actually should be virus according to when you created the contract. So here you have two nodes: two ounces, sorry not zero and so on. So they are under the same task, so they are all both six day bones.

B

But here the maturity is different because, let's say the first day today you used to know zero and tomorrow you can use your nose one and of course this known structure can be used uh for other, um but here is only for some demonstration we use it for for the period, let's say the date of the different uh bond, and you can see here the balance of a coin.

B

Actually I would that the mating is inside of each separating mode, so the nose itself balances the transfer from from your address to another balance, exchange and all those metadata and all those values like I mentioned, you'll transfer as well. So that's basically the structures. I spend a lot of time to uh to introduce so here here on this page.

B

You have on the left side the parts they standardize and then write the path. We didn't, let's say the implementation, so this is more. um I say um you have more freedom to define the structures here, but on this side the the the interface the eic3005 will say, ierc should always be the same structure. So this is the values uh when I put it.

A

B

So again, back to here, so the so then this values um arrays, what's stored, is not actual variables. So you need to imagine that you created the box and you don't know what's inside of the box, but the box has four separated spaces, so the first place is a string space for string value and second space is integer space and the third address fourth of both space. So you are manipulating the box, but you don't know what is inside.

B

So in order to write the the types of the data you want to write and you have to read it. You need to find the types here in the metadata structure so use the the same thing and uh so which actually will try several other methods to store those metadata. But this method actually is the most efficient and the most easy to use.

B

I will explain, maybe later, let's say other considerations. So uh here is some solutions and on this on this page, actually uh we explain also uh what is some kind of different notation. So here you created the noun structure first and you put the mouse value and matching it from each notes. Id to some uh a string of different values and therefore might be of balance, same active supply, burst of values in supply, and this non-structure is on the cast structures and the class structure.

B

Has the values of the class has the announcement of the task. So it's the meditations for the nodes under the class and of course you have known ids. So here is actual.

B

I see the smart contract level so here it defines that you have id and use this id. You can uh get the custom editor, so the whole structure is defined. uh This those customizable structures- and here you have some demonstration of how to use this solution for the front end. So on the left side, you have the let's say the jesus strings achieved from the uh web three. So actually you can call one single functions. uh Actually two functions to get all those uh essay informations, you don't need separated functions.

B

You don't need to standardize those readable functions to get informations. You need- and let's say, if you have 200 different variables or 200 functions, to write them and I think 200 is at least uh needed uh in the bond standard.

B

So, basically, you will have around a 90 percent of them keep empty, and if you call those functions, you can't call them it's there as the value returns it's empty, so this mean is forever so basically here uh one call you get the logician string here and what the front hand will do at first he will get the title of the of the the values. So it's the key, let's say the key zero. So this, this whole keys is recognized by our uh front hand. So, basically, the front end has some kind of rules.

B

You need to use this key for this, this key for that this key for that. But the idea is that you can always keep one key id empty. If you keep it empty front, end will not read uh you'll, read it in empty information and it will not show in adjacent strings. So the digital string is the return of the usable data here, the title you have symbol and the sum is a string and some descriptions and based on the different class type class ids. You have different values. So here uh sorry.

A

B

Here, let's say the name of the bond so here for the demonstration this is the same, but actually you can have all different symbols. So uh this is for the symbol and it's because it's strength, it will be interpreted as a string and because it's a symbol, it will be put, let's say to the name, sections on the front end and the same for the issuer. So the issuer is the um let's say the meter. You know yes or 20. So who is the minter?

B

Let's say you have some strength to describe them, and here you have d bone and you can also have such degenerate and other bonds as easier. So basically, the the issue ideally uh will be a dollar contract. I said our smart contract but because of um let's say some centralization problems. I've explained later based on our discussion with uh some banks in europe, association and others.

B

They will need many another solutions, and here uh the third one is the token address and you can see its address, typo type and description as well and you have different values. So all these information is kept from battery and you use a script to translate them and afterwards on front end. This will be the result, so basically use the same front end.

B

You can install 200 types of binaries, 200 types of values, and you need only one functions to get them and you can also customizably uh select which parameters you want to show on your front end. So hopefully this will be, let's say, a good solution for uh for those financial objectives and because the the parameters is allowed. So maybe later I will show you the some implementation they did with solution out and you can see there are 20 implement, like 20 parameters for each token ids.

B

So if you are using the old method, 20 functions 20 variables and here is much simpler, and on this page we expand our solutions for patient actions. So actually basically it's the same. uh They have structures and you have class id notes and dmrs and you will package those uh transactions into race and you do them. uh You understand multiple times. So the only thing they do is they don't have the requires of tracking the length of each arrest.

B

So basically uh it's uh in terms of actually it's a little bit more effective, and here now different types of supplies.

B

You have a redeeming supply, active supply and burden supply, so uh why they need three types of supply: it's because we are talking about obligations. So actually my application have um has three statutes. So the first one is when the obligation is not executed.

B

uh The terms is not met yet and the contract are there and they can't be executed later. So this is what we call active supply, which means that it can be executed or it can be burned. So the redeem supply is the supply that been destroyed after uh the contract is executed. So the idea is that if the redeemer supply is added means that those supplies- uh let's say, the smart contract are being executed and all the terms are met and the other actions are taken.

B

So this is redeemed supply and you have the burdens of that. So the same thing: when a tokenized uh obligation is active, inactive supply status, it can be burned uh and you just destroy the contract without, uh let's say, execute the actions inside about inside the contract. So you're brandon, you write to something, so you can destroy the obligation and those supplies will be put into the foreign supply and, of course, the total supply is the the the sum.

A

B

All three types of supplies- and we have some events, so basically uh it's just actually the same crds20, but using our solutions about front-end can capture all this event machine.

B

So the idea is that uh once some you get some uh yes 075 in your wireless email, address or front-end can read it and they will get that smart control address and class and announce ids accordingly. So, basically you don't need to add any smart contract. You don't need to do anything with your hotspots. You can. Our front-end can read them accordingly.

B

So this here you have some bad transactions and you can see they are all used, uh they're all using the same structures as we call the transaction structure yeah, and there are also some safety considerations about approval full function. So basically they have two functions. One is approval for and I think the the other one is approval. So basically, two functions is different. One.

B

You give the total access of your bond a path from ownership to some address, and this address how all those access of your uh of your uh let's say, of all those forms. Under your uh address- and here you have also a ways to to give- um let's say a transaction, so basically you are giving address of one-time um possibilities to transfer or to manipulate the bonds.

B

So basically the two functions are different and that is very important in your standard and I'll explain why you need this this this operator rows, which is not that decentralized, but it's necessarily needed here. You have some examples, so it's obviously our default implementation. You can get from our github.

B

So uh if you are interested in the implementation itself, you can take a look here. I just go through this, so here we uh created a class and they created a castle bomb.

B

So here you first you define the keys, so we will define the keys id5 as period uh keeps the file types as an integer and the execution is uh details about insurance and redemption time, and here you have also the values, so the the cost 0 of the values p5 or, let's say the key five- uh and this is the type of integer- and this is 180 days, so basically use this. uh You can actually install all those, um let's say.

A

B

And in the same way, like you start those variables you're, creating new variables, so yeah, basically the solution- and here you have known- and here in the implementation you are have maturities. So all the different nonsense has different majorities and the integer again and description.

B

So here you created three notes, not zero one and two, so they are the same uh class but because they are using the same maturity uh values. So this one can be redeemed. Let's say six months later, this is six months plus one day, and this is third.

B

This is six months past two days and yes- and here is our um let's say solutions for for existing d5 protocols. So basically this is a more developed version of the am m, so the traditional mm we know is that you have a pair and you are using very simple functions. X, plus, is multiplied by y and equals constant k. So basically it means that in the same smart controller you can have only two tokens and let's say if, in terms of ethereum, you have maybe 200 pairs, maybe more than that.

B

So what happens is that in each part, the amount of ethereum will be far less than the total amount, and what happens is if you want to uh swap and if the difference uh x, let's say the dx, uh the difference. Yeah ethereum is very big compared with the x.

B

What will happen is that the there will there will be a very important slippage and the money will be lost in this way and what on the market, there are a lot of arbitrage, they find those kind of opportunities and they try to modificate from other pools to this pool, let's say: there's a very variation of the price. So basically the apn is a tool that actually uh it tried to maintain, let's say the seamless, the same process, but this time the the arbitrary reward is not given to the arbitrators.

B

It's actually it's given to the people to the person who slaps so basically, the slippage will be reduced significantly with this method. So basically, what is used here is instead of using vampire we put all the tokens uh inside the smart contract, what we call multi-layer pool so here, if you click this, you can find our implementation and with the the same pool you have all the tokens and the value issue or our chip, token use yeah 3475 and what we will get is on this token itself.

B

It defines when you deposit uh what interest you expected, the type of your uh bond and, of course, the type of the token you deposit and the amount. So basically again like I said this actually is the token, but it builds all the information, all the variables uh parameters uh on the uh class and non-scientists.

B

So basically, it's far more easier to uh to change them without losing any information, the the same for all other uh types and what we do when someone want to stop is that they, uh let's say here, you have this layer pool and the multi-layer pro actually is a combination of we call a virtual pair, so each virtual pair is like a power contract, but it's in the smart control level. So inside of one material pool, you have a lot of different kind of virtual power and the virtual pair use amx to solve the ml.

B

So what will happen is a very simple example here you want to swap your ethereum against usdt, so uh earlier case, the ethereum is described in separated pools, and what you can do is that you send ethereum to this pool and you add the different of ethereum different dx and you need to remove some usbt, which is minus d1. So what will happen if, like I said, the amount of the difference in x, if this amount is executed, the slippage will be, uh let's say uh ridiculous.

B

So what will happen in our solutions that all of those pools? Actually they can communicate with each other. So, with those previous solutions, security, power control, you can't connect to other pools, so basically in our solutions, because they are in the same smart contract and they are using the same rp token, it's the same contract who will issue all those tokens. So what will happen is simply they are communicated with each other and in example, here.

B

What will happen is that you put in uh ethereum uh to exchange of usdt, but what will actually happen is that the ethereum itself is not putting into the ethereum usb ports. Actually they have what they call a bigger. So the big l is the sum that of the total uh ethereum in all the virtual pairs. So what will happen is that this is like someone doing an arbitrage after uh a big slippage and try to remove the tokens from one put to all other foods and get the reward.

B

So this actually is simulating the same process, but only changing the big out what they call the sum of uh x. So it's a big x, you can also say a big x and when you swap you change the big x instead of each uh saturated mix, because they know that the pool is connected and we know the usdp usbc and all other tokens that has almost the same value. So we can use this method to reduce significantly the speed- and uh here is some explanation about yet 3005 comparing to ethereum.

B

You have first, uh most importantly, entry mechanical storage and you have decentralized bond and objectives which is not available at all and all those can be, let's say, creative using our standard and, of course, we'll provide a secondary market for those financial products.

B

Here you have a better use case of amn, which is the this implementation they introduced, and here you have the reduce of gas speeds and in some actions not all the actions, but in some action and, of course, reduce significantly see the significant reduce of the footage in certain and the last part is abstract and adaptable storage. We can use this to for all needs, not says itself almighty. Is you can do anything with that? But it's very adaptable.

B

uh Why standardized?

B

So? Actually this? Basically iron is one. So what kind of token standard can offer? So, basically, all those things and even the all those things. So there aren't any solutions. So if you are using the multi-layered software was not something very difficult to uh to come up with, but the difficulties part is how you are going to manage the rpf so with one five: five with uh all existing standards, it's impossible because the method has the values is not stored in um based on ids. So, basically, what you need yeah c2475.

B

Otherwise the multi-layer solution will be impossible. That's why that's what can bring to the community and, of course, one standardize it because you need to have a standardized interface and you need to have the standardized ways to use this. Let's say a more functional uh infrastructure. Otherwise it's not the infrastructure. It's just. Some random solution proposed by us use only bad, so it's a meaningless so why it's standardized again for the front-end purposes and applications. So basically we provided a host virus.

B

Like I said again uh use this wallet, you don't need to enter any information. We just capture all the events and they can know that the english pool of which protocols, which type will deposit what of each date and then you can redeem and what will be the results to regime right now. So, basically, all those informations uh can be installed.

B

Let's let's say in the same place our front end, which is not possible before when you have very, uh uh let's say, a very costly uh manipulations. Let's say you need to add all those address in order to get these functionalities. So maybe, if we have time they will show the uh the front end later, and here you have other consideration what we discussed. We tried the tlv method, which is less efficient than our full anti-box method and for the metadata front-end.

B

We thought we could, let's say force it into the erp, but we've abandoned this idea and you have some class and non-structures we consider but uh not used, and here we have some very quick conversions with the existing solutions.

B

So right side is our solutions for swap it's uh same price or a little bit more expensive, but for all other manipulations, especially creatine pairs, because they are just uh add some values into the method. So it's very efficient and almost consumed. Nobody and you have other kt, which is a very tricky comparing the unit, stop solutions or current solutions. So basically that's uh the supreme court. It is about the presentation.

A

Well, thank you. Thank you so much for this presentation. I loved it, especially the table that you have shared about eap, 20, 71 and 11 55, and I hope the detailed explanation of metadata, front-end and batch transaction will be helpful for d5 dap developers. It's quite thorough presentation, so yeah thank.

B

A

You thank you for that. um I see a number of people join in the call today. Some of you may have been muted. If you have any question, please drop in the chat, so I can unmute you and welcome cedric hi ho. Thank you. Thanks.

B

A

uh Well, people are trying to add questions here. I have a few questions collected already, so I can maybe share that. um My first question was why I stand it. I find it good from a project's perspective right and um my understanding is d-bond. The project is more or less doing what you are suggesting here.

B

uh Actually, the what we call token standard is not for diva. Actually, uh we discussed there's several european banks so, like I said, uh since the vision, hal and the european investment box. So basically uh they see our solutions and, uh of course they see their solutions as well. So basically, the smartphone itself is not a smart, uh not a small market. There are major players they already participate inside. The only thing they need is a standardized weight. That can uh be um say.

B

uh uh Let's say just you need a standard in order to build the real market, otherwise you're just playing this um sorry for my video, I think it's cut off. So what I try to say is that there are other players as well, so all the spunks very seated- and we have several discussion with them already and they all think they need the token standard in this way.

B

So I do say that this token standard is not only for us but of course before this can be a standard nobody's going to spend time and energy to make this uh a verbal product. So that's why we need to develop our own product first and to solve that the efficiency of these solutions, and, of course, after this, the substitution and other bonds to join and all other different protocols we've been discussing this. They will see the potential in distributions and the usual.

B

So basically for myself, I will have no doubt concerning the efficiencies and superiorities about the assist about this standard in bond manipulation, as the idea is that you need to tell the market and, most importantly, you tell those developers that they need to redo all those solutions they had.

B

So you need to have a very uh strong showcase and this showcase uh for now it's only our product and also uh association, hal and the european investment bank, because we, uh before the standard becomes standard, it's harder to find a good like good users for the standard.

A

Wonderful, I mean like this is always encouraged to have some implementation before we move any proposal to a standard, and if the team original team is involved in building a project and then bringing it, the implementation of that proposal is really a good example to have.

B

Also, we have other examples, for example, for association are uh sg fox, so basically I I I think I will add a new ripple and we can showcase other solutions. We propose to other major players.

B

So uh if you are, you will be interested, you can see other implementations we did for uh for other organizations and they will be our github. So if you follow our github updates, you can find them, and I say devoutly.

A

Maybe you can share the link to the github with me and I will add it to the description.

B

Yes, we will do that.

A

All right well, thank you. um My next question is about gas efficiency. In the motivation section, it is mentioned that the function defined is this. Eip provides a gas efficient solution, and you mentioned about like multi-layer pool right, so maybe, if you can explain or elaborate how it provides a gas efficient solution.

B

So, basically, uh in terms of material pool, so let's say from the most obvious one: uh creating power so using the old uh solutions. Let's say you are using uh linux solutions.

B

What you need to create if you want to create a pair, you need to create a smart contract with a new architect contract and you need to call the factories to deploy the control. So that's why, as you generate this amount of gases and because in our method the contract is already developed, it's already deployed sorry. So what you need to do is you just need to create a virtual power and you need just to call functions to write the informations about those two tokens in the past into the mapping.

B

So basically uh compared with the publisher new smart contract, it's far more efficient and uh either way. If you are trying to swap ethereum against some zaryatic serums, you are trying to swap a r token against another rare token. So very likely you can't find powers, so what unit swap is doing because the pool can communicate with each other. So actually they are just looping, the the swap itself. So you will pick up.

B

uh Let's say around two times the cut speed in order to do the transaction, but if the port is uh connected one to each other, so basically you can manipulate the whole pool and the virtual pre inside uh just let's say uh the single transaction, which of course will be more efficient in terms of capacity consumption.

B

But, uh to be honest, when you are slacking, uh let's say um in a single pair, our solution is a little bit expensive than the existing ones, because uh you need to get the virtual pool from mapping and this will cause some gas width, but the difference is not real. So that's why, overall, I think our solutions will be more efficient but the most important part of our solutions, not even the gas itself. It's about the slippage.

B

So slippage is a huge problem uh in m, so basically our solutions, we believe, can get a lot of possibilities to reduce significantly the distribution itself.

A

Interesting so yeah. This looks like a good example and it provides a considerable uh thoughts for people like the tab developer to be maybe adopt this proposal.

B

uh For me, I think I said everything to say, and uh I'm not sure if for the for the audience with uh what we try to do. Actually what we want to do is very simple: it's just to build something less adaptable and build the same for them for everyone for everything. So this can um bring a lot of possibilities because, yes, 20 and 71 all that other token standards, because the again the storage is specified, it's very limited.

B

So we uh we're not seeing a lot of innovations in d5 and to be honest for the past two years, I didn't see an exciting project because the same uh problem standard issue. So basically uh I hope that our token standard will bring more possibilities uh into uh ethereum ecosystem and, of course, uh that will be the case. uh The implementation of less 0.75 will be a possible solution.

A

I hope so too. Thank you for sharing all these information. um I have noticed a few um minor editable points. uh If you can maybe update the proposal. I know it is already in the last call. I can also add those as comment over there, but just for sharing for documentation purposes. We generally prefer that um an eip, even if it is of erc category, may be represented as eip, for example, um in backwards compatibility.

A

It is mentioned that this standard interface is also compatible with erc20 and if you look into the link the link takes to eip 20., so that is just small update. I'm requesting just.

B

Just give me some facts I'll note. This.

A

Yeah I mean I can send you a list. I have just two three minus.

B

Ones I will send.

A

It to you, that's all right. I wanted to say this is like very well documented. I also looked into the assets library of it and you have added the assets uh for different metadata. Those are all wonderful. Thank you so much for putting so much effort into one proposal to make it as a standard right. It's time to wrap up. Do you have any um final thoughts to be shared with the community.

B

So uh very uh thankful of your time and also for the other audience. Thank you for coming and if you have further information, further questions or if you don't need further information, you can send me a mail, so you know my contacts, so uh I will be expecting them.

A

I just wanted to add things for the audience and we are very excited you know to have.

B

The the you know the bounce back of the community of this, because it's a very exciting project and uh yes, like you, said, you're liking and said, uh I'm very sure that it can be something huge because.

A

It's a very um let's say, a very improvement so for for for for everything, so thanks for it engines thanks for everyone, and uh yes thank you. Well, we appreciate you all taking out time and talk about ap 3475.

A

I hope it will be adopted by d5 project after becoming a standard thanks to the entire team of t-bond. On this note, thanks to all youtube viewers for watching this episode, check out description for related links hit like and share. If you like the talk, should you have any question on this proposal or any other, please let us know at eat cathode with this graph subscribe to the channel. If you haven't done it already see you next time with another interesting proposal till then keep sharing your love with ethereum cat editors have a good one.

A